The import of ethylene glycol to Indonesia has experienced significant fluctuations over the past decade. From a high in 2014, the market saw a dramatic decline in 2016, followed by inconsistent recovery phases. As of 2023, the import volume stood at 415.61 million kilograms.
Year-on-year percentage changes show an erratic trend with notable peaks in 2014 (21.08%) and 2021 (21.7%), contrasted with sharp declines in 2016 (-45.82%) and 2020 (-16.14%). The compound annual growth rate (CAGR) over the last five years up to 2023 stands at approximately -0.31%, indicating slight overall contraction.
Looking ahead, the forecast from 2024 to 2028 suggests modest growth, with a projected five-year CAGR of 0.76%. This forecast indicates an incremental year-on-year growth rate, reaching 436 million kilograms by 2028, reflecting a modest upward trend.
Future trends to watch for:
- Impact of global market dynamics on supply chains and pricing.
- The effect of domestic production capabilities on import reliance.
- Policy changes and environmental regulations influencing market demand.
